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HKU’s innovative research novelties excel at 48th International Exhibition of Inventions of Geneva

The University of Hong Kong (HKU) triumphed at the 48th International Exhibition of Inventions of Geneva, winning a total of 19 awards, including two special…

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The University of Hong Kong (HKU) triumphed at the 48th International Exhibition of Inventions of Geneva, winning a total of 19 awards, including two special grand prizes Invention & Innovation CAI Award (China Delegation), and Prize of the Delegation of Malaysia. The results were announced yesterday (April 28).

Credit: The University of Hong Kong

The University of Hong Kong (HKU) triumphed at the 48th International Exhibition of Inventions of Geneva, winning a total of 19 awards, including two special grand prizes Invention & Innovation CAI Award (China Delegation), and Prize of the Delegation of Malaysia. The results were announced yesterday (April 28).

Research teams from Faculty of Architecture, Faculty of Engineering, Faculty of Science, LKS Faculty of Medicine, and two HKU Inno Laboratories, established under the Hong Kong Government’s InnoHK programme, garnered two special grand prizes, one Gold Medal with the Congratulations of the Jury, six Gold Medals, six Silver Medals and four Bronze Medals with their innovations in the event.

The Artificial Intelligence MGF Network for Anomalies Detection, developed by Dr Wilton Fok’s team from the Department of Electrical and Electronic Engineering, was winner of the two grand prizes and a gold medal. The system uses AI to analyse in real time human posture and movements in a video to identify anomaly scenarios such as abuse, drowning, and criminal behaviour.

The Programmable Cell Niche Engineering Platform, developed by Professor Barbara Chan’s team from the Department of Mechanical Engineering, won a Gold Medal with the Congratulations of the Jury. The system ensures proper cellular functions and results that can enable predictable clinical studies by mimicing the biological environment for cells.

HKU has showcased this year a total of 17 research inventions that provide solutions to pressing human problems, spanning diverse areas such as biomedicine, vaccine development, artificial intelligence, and aging. Notably, the Advanced Biomedical Instrumentation Centre and the Centre for Virology, Vaccinology and Therapeutics, established by HKU in 2021 under the Hong Kong Government’s InnoHK program, have demonstrated exceptional ability in successfully translating their biomedical research achievements into practical applications within a relatively short timeframe. Each have two research inventions selected, including an aptasensor for sepsis diagnosis, a capillary microfluidic platform for point-of-care testing, an interferon-integrated coronavirus vaccine, and NanoComplex vaccine technology.

“HKU takes immense pride in the recognition our researchers have received for their innovative research efforts. We are also dedicated to facilitating the transfer of our research findings into tangible applications in the market. Through the powerful synergies generated from our collaborations with global research and industry partners, we strive to facilitate the emergence of pioneering innovations and their transformation into products that improve the well-being of humanity,” said Professor Max Shen, Vice-President and Pro-Vice-Chancellor (Research).

Renowned as one of the most distinguished innovation exhibitions in the world, the International Exhibition of Inventions of Geneva (IEIG) is an extraordinary annual global event devoted exclusively to inventions and innovations.

Since first participating in the event in 2018, HKU has received a total of 60 awards including 4 prestigious Gold Medals with Congratulations of the Jury and 21 other gold medals.   

HKU’s award-winning inventions in 2023:

INVENTION & INNOVATION CAI AWARD (China Delegation) & PRIZE OF THE DELEGATION OF MALAYSIA & GOLD MEDAL

Artificial Intelligence MGF Network for Anomalies Detection
The invention can be deployed in children’s centres, swimming pools, public transport and exhibition centres to detect abnormal behaviours and situations for public safety and security. Using AI to detect human skeletons in a video and analyse their posture and movements, it is able to capture the context information in a long video and address specific portions for detecting multiple anomaly scenarios in real time such as abuse, drowning, terrorist attacks, traffic accidents, fighting and criminal behaviour, more accurately and efficiently.

The invention was developed by the research team of Dr Wilton Fok from the Department of Electrical and Electronic Engineering, The University of Hong Kong.

GOLD MEDALS WITH CONGRATULATIONS OF THE JURY

Programmable Cell Niche Engineering Platform
One of the reasons many drugs that work in the lab do not work as expected in the clinical trial stage is that scientists grow cells on flat and rigid culture dishes for drug research, which are not biomimetic — leading to cell responses in lab testing that do not represent what would happen in native tissues of human bodies. The Programmable Cell Niche Engineering Platform mimics the biological environment for cells, which in turn ensures proper cellular functions and results that can enable predictable clinical studies. The multifactorial biochips invented identify the ideal niche for different cell types, equipping scientists with a comprehensive library of individual niche factors to develop optimal culture environments for different types of cells of specialised applications.

The platform was developed by Professor Barbara Chan and her team from the Department of Mechanical Engineering, Biomedical Engineering Programme, The University of Hong Kong.

GOLD MEDALS

1. Respiratory Organoids
Biomedical research mainly relies on cell lines and animal models for experimentation, which has limited physiological relevance to human biology and pathology. Under this project, a complete respiratory organoid culture system has been the first of its kind to efficiently reconstruct and reproducibly expand the entire human respiratory epithelium in culture plates. All the differentiated respiratory organoids, including nasal, airway and alveolar organoids, adequately mimic the multicellular composition of native respiratory epithelium and phenocopy the functionality. Superior to most existing in vitro models, these organoids represent universal tools with biological relevance for diverse biomedical and pharmaceutical applications, including disease modeling, development of therapeutics, toxicological evaluation and personalised medicine.

The project was originated by Dr Jie Zhou, Dr Man Chun Chiu, Dr Cun Li and Professor Kwok Yung Yuen from the Department of Microbiology, The University of Hong Kong.

2. Bismuth-based Cocktail Therapy for Coronavirus
There is an urgent need for safe and effective therapeutic options for COVID-19, with the SARS-CoV-2 variants associated with enhanced transmissibility, reduced vaccine-induced protection and emerging drug resistance. Under this project, the orally administrated bismuth drug colloidal bismuth subcitrate together with N-acetyl cysteine has been found to be a broad-spectrum anti-coronavirus cocktail therapy against multiple SARS-CoV-2 variants and different coronaviruses. Mixing two US Food and Drug Administration (FDA) approved over counter drugs, 1 molar equivalent of colloidal bismuth subcitrate and 3 molar equivalents of a mucoactive drug N-acetyl cysteine, is a safe and highly potent therapy through oral administration and 10 times more selective in killing the virus than the first FDA approved drug. This therapy is now in phase II/III clinical trial in Hong Kong, with a phase III trial underway in China.

The invention was developed by Professor Sun Hongzhe, Professor Yuen Kwok-yung, Dr Yuan Shuofeng, Dr Wang RunMing, Dr Li Hongyan, Dr Jasper Chan Fuk-Woo, Dr Cheng Tianfan, Mrs Wang SuYu, and Mr Chan Chun Lung of The University of Hong Kong.

3. PERfECT Wearables for Digital Health
Endorsed by over 100 leading scientists worldwide on social media, “HKU PERfECT” is the first wearable platform combining the distinctive features of being highly sensitive, energy efficient, lightweight and ultracompact, enabling decentralised medical technologies for remote and personalised healthcare to cope with an aging population, quarantine and the shortage of medical instrumentation. Compared to current wearable devices that can only measure vital signals (e.g. heart rate, breathing rate, blood pressure, etc.), PERfECT is able to detect molecular indicators in body fluids, which are more informative for fatal/chronic disease screening and monitoring.

The invention was developed by the WISE Research Group from The University of Hong Kong and SESIC LIMITED.

4. Method of Developing a Peptide-based Vaccine Conjugated with 1V209
This invention describes the development of a method to conjugate 1V209, a toll-like receptor 7 (TLR7) agonist, to antigens to induce antigen-specific responses. Past synthetic peptide vaccines must be used together with vaccine adjuvants to stimulate T cells against specific antigens to treat cancer, but a simple mixture of antigens and adjuvants can hardly induce enough specific immune responses. To address this issue, we designed bioinspired nanoparticles mimicking the structure of the virus to enhance the antigen-specific immune response. Through safer and greener methods, it used the TLR7 agonist 1V209 to generate peptide-drug conjugates and form a self-adjuvating vaccine to deliver antigens and adjuvants at the same time, inducing a stronger T cell response with improved stability and successful suppression of tumour growth.

The invention was developed by Professor Jiandong Huang and Dr Yefan Hu from the School of Biomedical Sciences, The University of Hong Kong.

5. DipμChip – Capillary Microfluidic Platform for Point-of-care Diagnostics
DipμChip is an automated capillary microfluidic-based point-of-care (POC) microsystem allowing rapid and portable detection of various high-impact and mortality diseases. It is designed and fabricated using state-of-the-art molecular biology and microfluidic technologies, utilising capillary pressure and surface-activating treatments that allow laboratory-level analytics to be conducted in an accessible manner. This microsystem paves the way for a versatile array of clinical and academic applications that require multiple conjugations and washings. End users of DipμChip include clinics, hospitals, homes and assisted living healthcare facilities, democratising access to adequate clinical care, and saving precious lives of patients in need.

The platform was developed by Professor Anderson Shum, Dr. Hassan Sammer Ul and Mr. Nicky Lee from Department of Mechanical Engineering and Advanced Biomedical Instrumentation Centre.

SILVER MEDALS

1. Smart Address Plates for Pedestrian Indoor Navigation and Location-Based Services and Management
Traditionally, pedestrian navigation uses Location Positioning System (LPS) with trilateration to find the user’s position, which have very high positioning error for outdoor GPS and indoor positioning. This new solution adopts a cost-effective innovative Location Confirmation System (LCS) to accurately locate and guide the user to the destination by using Smart Address Plates (SAP) that transmit stored geographic coordinates with innovative 3D Smart Address (SA) codes to the users even without WiFi or telephone signals. This SAP system can help to find shops/ offices/ restaurants/ car parking spaces inside a multi-storey building accurately while providing location-based services and management for precise target marketing. It is highly scalable, connecting shops/rooms on a floor to a building, then to a district and to the whole city through a Smart Address Plate Management System (SAP-MS).

The Smart Address Plates and Location Confirmation System were developed by Professor Anthony Yeh, Dr Zhong Teng and Dr Run Shi from the Department of Urban Planning and Design, The University of Hong Kong.

2. A Novel Stem Cell-based Platform for Antiviral Discovery, Vaccine and Healthy Natural Products
There is an urgent need for the vaccine industry to establish a new type of human cell model for anti-virus drug development in order to enhance sensitivity and efficiency. The human Expanded Potential Stem Cells (hEPSCs) developed under this project help generate trophoblast stem cells (TSCs) and syncytiotrophoblasts (STBs), which express high levels of SARS-CoV-2 host factors and are highly susceptible to the viral infection. Remarkably, the infected eSTBs are 1,000 times more sensitive to antiviral drugs, making the TSC-STB platform a more ideal human cell source for viral production and performing antiviral discovery, including SARS-CoV-2, MERS, their variants, and the FDA approved anti-virus drugs and natural products.

The platform was developed by Professor Pengtao Liu from the Li Ka Shing Faculty of Medicine, and Dr Degong Ruan and Professor Fang Liu from the Centre for Translational Stem Cell Biology, The University of Hong Kong.

3. Ultra-thin Flexible Robotic Instruments for Endoluminal Surgery
Under this project, a robotic system with highly miniaturised and flexible instruments has been developed to address challenges in the endoluminal treatment of early-stage gastrointestinal and urinary tract cancers. In current practice, there is a steep learning curve for resecting tumours in their entirety due to a lack of instrument dexterity and poor tissue retraction. The developed system provides two robotic instruments as small as Ø2.5 mm with 5 degrees of freedom each, enabling enhanced endoluminal surgery with conventional rigid and flexible endoscopes. Overall, the system will help to flatten the learning curve so that more clinicians can provide patients with effective early-stage care.

The system was developed by the research team of Dr Ka-Wai Kwok from the Department of Mechanical Engineering, The University of Hong Kong.

4. Automatic Alignment of Microparticles
This groundbreaking chip-size invention revolutionises the way to align micro-particles in liquids. Using a microchannel with specifically arranged roadblocks that effortlessly guides disordered particles into an ultrafast-flowing chain, it provides outstanding performance at a low cost. As compact as a credit card and priced at less than USD10, each device can align up to one million particles per minute with precision down to 0.001 mm. This game-changer bypasses the limitations of current methods, thereby enhancing the efficiency of applications that involve microparticle analysis and processing, particularly blood cell screening and water filtration.

The invention was developed by Professor Kevin Tsia and Dr Kelvin Lee from the Department of Electrical and Electronic Engineering, The University of Hong Kong.

5. Interferon-integrated coronavirus vaccine: a next-generation universal live vaccine protects against pan beta-coronavirus infection
In the wake of the COVID-19 pandemic, it is imperative to develop a next-generation coronavirus vaccine that can offer protection against current and potential future beta-coronavirus infections. However, there are several technical hurdles that must be overcome in order to create an ideal vaccine that has three key properties: 1) universal protection against a broad range of beta-coronaviruses, 2) enhanced mucosal T cell immunity, and 3) activated innate anti-viral mechanisms to ensure safety. The team has developed an innovative immunological design and genetic engineering technology that has resulted in the creation of a universal beta-coronavirus mucosal vaccine and a streamlined production pipeline. Preclinical studies in two animal models have demonstrated the efficacy of the vaccine in terms of the three key properties.

The technology was developed by Dr KH Kok and the team from the Department of Microbiology of The University of Hong Kong and the Centre for Virology, Vaccinology and Therapeutics.

6. NanoComplex
NanoComplex is a next-generation vaccine technology designed for nasal use and carries the potential to target all kinds of viruses. Viruses have proteins as antigens and nucleic acids as genomes, and both are critical components to alert our immune system and generate strong protection. The NanoComplex technology takes full advantage of these components, combines viral proteins and nucleic acids with innovative methods, and creates a nano-sized complex that can be used as a nasal vaccine. Since all viruses have the same components, the NanoComplex can switch its internals for different viruses, and therefore can potentially defend against all known viruses.

The technology was developed by a research team lead by Dr Kin Hang Kok from the Department of Microbiology of The University of Hong Kong, and the Centre for Virology, Vaccinology and Therapeutics.

BRONZE MEDALS

1. Remote e-Inspection System for the Manufacturing and Delivery of Offsite Modular Construction
This e-Inspection System is a Modular Construction Supply Chain Quality Assurance system that includes i-Core (an loT device attached to each MC module to monitor the position, humidity, temperature and collision data), e-InStar (an App for uploading the checking result of each production step in a remote factory to the block chain), e-TranStar (an App for monitoring the location and condition of the MC module in the transport process) and a blockchain-based backend. Designed for offsite modular construction use to help solve housing problems, it reduces resources required for supervision and paperwork while ensuring tamper-proof data, helping overcome the current difficulties in monitoring the quality of production and transportation from remote sites. The system has been piloted in an HKU project in Hong Kong with two 17-storey buildings using 952 MiC modules.

The system was developed by Prof Wilson Lu, Director of the iLab of the Faculty of Architecture, together with Professor Anthony Yeh, Chair Professor of the Department of Urban Planning and Design, and Mr KL Tam, Former Director of the Estates Office of The University of Hong Kong.

2. On-site Fertilizer Production for Perpetual Farming
The EC Flow device developed under this project is an energy-neutral system that fully integrates with solar panels and battery storage systems to detect and remove numerous toxic residual nitrates and nitrites (NOx) in soil using renewable energy. It can further upcycle NOx and feed fertilizer back into urban farming sites, achieving waste remediation, pollution mitigation and resource recovery to reach nitrogen neutrality. This solution can be applied to plantation areas of any scale and type, including farms, lawns, roof gardens and balconies. The goals are lowering toxin levels in municipal waste and alleviating ecological strains on urban sewage systems, ultimately improving the urban municipal discharge situation and local marine environment.

The device was innovated by Dr Edmund Tse, Wanying Wang from the Department of Chemistry, The University of Hong Kong, and commercialised with the help of Yip Jackson Ho So.

3. Smart Elderly Walker
This is a smart and handy device pairing advanced Artificial Intelligence with a home-friendly design, helping the elderly stay healthy, active and independent while making their lives easier and more secure. It brings together several advanced features, including a stable mechanical structure with smooth omnidirectional mobility, dual-mode actuation and control for simultaneous walking/standing support and fall prevention/recovery, soft robotic handles and privacy-friendly sensors for event detection and control and fall detection, as well as specialised sound-source localisation to locate the user quickly and effectively, providing enhanced safety protection and superior walking assistance for older adults.

The device was developed by the research team of Professor Chuan Wu, Dr Hao Luo, Dr Zhao Chongyu and Dr Wen Rongwei from the Department of Computer Science of The University of Hong Kong; and Professor Wang Zheng from the Department of Mechanical and Energy Engineering of The Southern University of Science and Technology in Shenzhen.

4. Aptasensor for Sepsis Diagnostic
Diagnosing sepsis in a timely manner to ensure optimal patient survival with prompt treatment remains a major challenge. This invention utilises a novel DNA-based biosensor that integrates aptamers into a point-of-care platform to advance sepsis diagnosis. Aptamers recognise biomarkers by specifically binding to unique structures on their surface. Unlike antibody-based tools, aptamers provide multiple advantages in terms of stability, production cost, reproducibility and flexibility that can readily be integrated into various platforms, such as electrochemical platforms (quantitative device) and/or colorimetric assays (rapid test). The aptasensor provides a quick and highly sensitive solution for sepsis detection that can help revolutionise point-of-care sepsis detection.

The invention was developed by Dr. Louisa Hoi-Ying Lo, Dr. William Whitehouse, supervised by Professor Julian Tanner, from the Advanced Biomedical Instrumentation Centre.

The University’s participation in this year’s competition was coordinated by the Technology Transfer Office of HKU.

For details about the International Exhibition of Inventions of Geneva, please visit: https://inventions-geneva.ch/en/home/.

About Technology Transfer Office, HKU
The Technology Transfer Office (TTO) manages the use of HKU’s intellectual property assets by providing patenting, licensing and other commercialisation support to the University’s researchers and inventors. Acting as the bridge linking HKU to society in the area of technology commercialisation, TTO helps industries and businesses to access HKU’s powerhouse of knowledge, innovation and expertise through close collaboration. Website: http://www.tto.hku.hk.

For media enquiries, please contact:
Communications and Public Affairs Office, HKU
Ms Melanie Wan (Email: melwkwan@hku.hk)
Ms Jaymee Ng (Email: ngjaymee@hku.hk)
Mr Kenneth Choi (Email: khkchoi@hku.hk)

Technology Transfer Office, HKU
Ms Joy Ma (Email: joy@tto.hku.hk)
 


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Aging at AACR Annual Meeting 2024

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging…

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BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals

Credit: Impact Journals

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals

Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”

Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Aging team.

About Aging-US:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed and archived by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed CentralWeb of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

  • Aging X
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  • Aging LinkedIn
  • Aging SoundCloud
  • Aging Pinterest
  • Aging Reddit

Click here to subscribe to Aging publication updates.

For media inquiries, please contact media@impactjournals.com.


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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked…

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%. 

The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.

Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.

We find the rent expectations surprising because it is happening just asking rents are rising across the country.

At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.

Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."

Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.

Turning to household finance, we find the following:

  • The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
  • Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
  • Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
  • At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."

Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months

Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.

Tyler Durden Mon, 03/11/2024 - 12:40

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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